IX Conclusions 



and Policy Implications 



We have attempted in this volume to clarify some of the complex 

 issues which beset resource development efforts. Our study has 

 been narrowed to two aspects of this many-faceted problem: 

 analysis of the conditions required to achieve economic efficiency 

 in water development; and analysis of the differences in the pattern 

 of income distribution which attend different water resources 

 policies. 



Values in addition to economic efficiency are at stake in water 

 resources development; we have given them only passing con- 

 sideration. Since water development has been an instrument for 

 attaining certain social goals, water programs include numerous 

 intangibles. Among these are the protection of human life in the 

 flood plains, the preservation of scenic areas because of their 

 aesthetic appeal, the improvement of public health and welfare 

 through provision of recreation facilities, the assurance of security 

 from vagaries of weather through irrigation agriculture — these, and 

 many others. In addition our society has used water resources 

 projects as a means of providing employment and settlement oppor- 

 tunities, of fostering the growth of underdeveloped or depressed 

 regions, and of promoting the widespread use of electric power. 

 These goals are commonly accepted — although individuals attach 

 varying weights to each. 



Still other values are of a more controversial nature. For exam- 

 ple, individuals differ greatly in the strength of their preferences 

 for private institutions as instruments for natural resources develop- 

 ment. On the one hand are those who feel that there are values 

 in private initiative and management which should be preserved 



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